UK-based oil explorer, Cairn Energy, has added 20% to its resource estimate for its oilfield off the coast of Senegal, The Telegraph reported.

The upwards revision takes its estimated recoverable reserves at the field to 385m barrels of oil from 330m barrels, making it “a key focus” for 2016, the company said. “Our attention is on confirming the scale of our Senegal discovery, expanding the resource base and moving it towards commercialization,” Cairn informed in its latest financial report.

The 20% increase to the so-called 2C reserves – until now company’s best estimate – is still below other experts’ expectations that the overall amount of oil in the area would rise to 400m barrels, according to the Financial Times.

Meanwhile, the company, which does not produce any oil as its focus is on oil exploration and well appraisals, trimmed its pre-tax losses from continuing operations for 2015 to $497.8m, down from $559.1m in 2014. The biggest single item in those losses was a write down to the value of its investment in Cairn India, which remains mired in a tax dispute with the Indian government. Cairn wrote off $319m from the value of its investment.

Additionally, while the company claimed that its two developments in the UK North Sea remained on schedule and on budget to produce their first oil from 2017, it has, nonetheless, reduced the value of its North Sea developments due to lower oil price prediction. Having revised down its 2019 oil price projections from $90 a barrel to $80, it re-assessed the value of its Catcher developments at an overall sum of $42m. The value would, however, fall to as low as $176m, if the oil price comes to $70 a barrel, the company warned.